Presidential instructions following a State Council meeting

Vladimir Putin approved a list of instructions issued following a December 27, 2012 meeting of the State Council Presidium on improving investment attractiveness of Russian regions.

January 31, 2013

11:00

The Government of the Russian Federation received the instructions to submit proposals on encouraging Russian regions to attract investment in new industrial companies and increase of high-productivity jobs, and to provide subsidies to the regions with the best record in attracting investment.

In addition, the Government has been instructed to submit a proposal on abolishing excessive powers of federal executive authorities’ territorial branched with regard to their impact on the business environment, and legislative changes that provide state support for the development of industrial parks.

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The Government, together with the Agency of Strategic Initiatives for Promotion of New Projects, has been charged, in particular, with submitting proposals to establish a process control system to attract foreign investment and provide recommendations for the implementation of best practices to attract investments in the Russian regions.

The Presidential Commissioner for Entrepreneurs’ Rights has been instructed to set a public council with the participation of representatives from national business associations.

The Interior Ministry, the General Prosecutor's Office and the Investigative Committee of the Russian Federation received the instructions to ensure communication with national associations of employers in order to investigate cases and prevent corruption in relations between the authorities and businesses.

Relevant recommendations have been issued to the executive authorities of the Russian regions. In particular, it has been recommended that they launch a specialised English-Russian online portal on investment in each region and to establish a direct interaction with the Russian trade missions in foreign countries in order to attract direct foreign investment in the Russian regions.

State Corporation Bank for Development and Foreign Economic Affairs (Vnesheconombank) has been charged with developing and implementing new financial programmes and banking products to foster the creation and development of the investment infrastructure, including industrial, technological and industrial parks and other facilities.